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Senior citizens savings limit doubled
Highlights
Sitharaman announced enhancing the maximum amount of money that can be invested in the senior citizen saving scheme (SCSS) to Rs 30 lakh compared to Rs 15 lakh now
New Delhi: FM Sitharaman announced enhancing the maximum amount of money that can be invested in the senior citizen saving scheme (SCSS) to Rs 30 lakh compared to Rs 15 lakh now.
The postal monthly income scheme also saw an enhancement of limit. In a single name, Rs 9 lakh can be invested as compared to Rs 4.5 lakh now. The enhancement of limits has come as a solace for investors looking for regular income in times of high inflation.
The schemes are backed by a sovereign and hence do not carry credit risk.
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